Small business owners juggle many day-to-day tasks such as meeting payroll, serving customers and coping with unexpected issues like replacing broken equipment. With so many immediate priorities, it can be difficult to find time to focus on the future, especially a future that may be a decade or more away.
A recent survey by TD Bank found that nearly half (47 percent) of small business owners do not have a retirement plan in place. Without a 401(k) with an employer match or a pension to rely on, this is a mistake that can be remedied with some forethought.